The Leicester based camera chain, Jessops, has become the first high-profile retail casualty of 2013.
Its administrators, Price Waterhouse Cooper, has said that store closures are 'inevitable'.
The retailer has 192 stores across the UK. It puts 2,00 jobs at risk.
Questions are now being raised on the impact this will have Leicestershire's economy.
Some 2000 jobs have been put at risk as camera chain Jessops became the first retail casualty of 2013, with store closures "inevitable".
Jessops looks set to become the first high street casualty of 2013 as the retailer is understood to be on the brink of administration.